Weill Cornell medical school to eliminate student debt

Thanks to $160 million in donations, New York City-based Weill Cornell Medicine is wiping out medical school debt for all its students who qualify for financial aid, the school announced Sept. 16.

The debt-free scholarship program kicks off with the 2019-20 school year. It will provide scholarships for student loans that cover tuition, housing and living expenses. Weill Cornell plans to continue the program "every year thereafter in perpetuity."

"Students whose passions, skills and talents point the way to medicine can now pursue their career aspirations, unencumbered by the pressure that comes with significant debt burdens," Jessica Bibliowicz, chairman of the Weill Cornell Medicine Board of Overseers, said in a press release. "We are immensely thankful to our visionary donors, who are committed to making this program possible for our students."

Weill Cornell Medicine's announcement comes as many other medical schools are beginning to step up scholarship offerings, particularly among New York City schools. New York University announced last year it would make tuition free for all students, Columbia University's Vagelos College of Physicians and Surgeons rolled out a debt-elimination program, and the Icahn School of Medicine at Mount Sinai pledged to cap student debt at $75,000. St. Louis-based Washington University School of Medicine and Pasadena, Calif.-based Kaiser Permanente School of Medicine are also offering students free tuition.